Federal Register #600-41, 600-42

SEC Notice: OSTTRA Exemption Applications for Clearing Agency Registration

This opportunity centers on a regulatory notice from the Securities and Exchange Commission (SEC) regarding applications for exemption from clearing agency registration by OSTTRA Limited (UK) and OSTTRA Services, LLC (U.S.). - Government Buyer: - Securities and Exchange Commission (SEC) - Division of Trading and Markets - OEMs and Vendors: - OSTTRA Limited - OSTTRA Services, LLC - Services Requested: - Post-trade, pre-settlement matching services for security-based swaps and related transactions - TradeServ platform: matching, legal confirmations, clearing connectivity, lifecycle event processing, regulatory reporting (credit derivatives) - MarkitWire platform: matching, legal confirmations, clearing connectivity, lifecycle event processing, regulatory reporting (equity derivatives, repo products) - OSTTRA Trade Manager: optional workflow management for buy-side subscribers across asset classes - Unique/Notable Requirements: - Exemption from clearing agency registration under Section 17A of the Exchange Act - Services must support regulatory reporting for multiple international regimes - Focus on cost and operational efficiencies for market participants - No specific product purchases or quantities; this is a regulatory filing, not a procurement - Additional Context: - SEC is soliciting public comments on the exemption applications - Includes a proposed rule change by MIAX Emerald, LLC to delay implementation of a price improvement mechanism for options trading

Description

This notice announces the filing of applications by OSTTRA Limited and OSTTRA Services, LLC seeking exemption from registration as a clearing agency under Section 17A of the Securities Exchange Act of 1934. The applications pertain to their services related to clearing and post-trade processing in securities and derivatives markets. The Securities and Exchange Commission (SEC) invites public comments on whether the proposed exemption is consistent with the Act. The notice includes details on how to submit comments and the regulatory context of the exemption request.

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